User Account

All Pages

Calculate cost of goods sold and ending inventory

Assignment Help Financial Accounting
Reference no: EM132979393

Question - Orange Company uses the periodic inventory system. The company's beginning inventory and inventory purchases during March 2021 were as below:

Mar 01: Beginning inventory, 175 units @ $6 per unit.

Mar 9: Inventory purchased, 205 units @ $9 per unit.

Mar 22: Inventory purchased, 195 units @ $13 per unit.

During March Orange company sold 205 units.

Calculate cost of goods sold and ending inventory for March 2021 using the First in, first out (FIFO) method only.

Reference no: EM132979393

Questions Cloud

Difference between equity and enterprise cash flow : How does firm size of affect risk and required return and Explain the difference between equity and enterprise cash flow
What would be the deferred service revenue amount : Tupper allocates revenue based on costs incurred, what would be the deferred service revenue amount at the end of the first month
How do the misclassification of raw materials : How do the misclassification of raw materials, direct labor, and factory overhead affect responsibility accounting? Provide an example to support your answer.
How justify whether product w converted into product w-one : Product X (6,000 units at RM10 per unit) - RM60,000. Justify whether product W can be converted into product W1 solely on the basis of financial considerations.
Calculate cost of goods sold and ending inventory : During March Orange company sold 205 units. Calculate cost of goods sold and ending inventory for March 2021 using the First in, first out (FIFO) method only
Calculate the deferred tax charge : calculate the deferred tax charge in the company's statement of profit and loss for the year to 31 July 2020 and the deferred tax provision balance
Which approaches to solving business problems : As part of the "contingency view" of organisations, global managers should adopt which of the following approaches to solving business problems
Compare aggregate improvements with margin : Estimate the synergies for each cost category based on the expertise of experienced line managers - estimates are realistic given industry economics
Which one of the statements about enterprises is incorrect : Which one of the statements about enterprises is INCORRECT? Micro Small Medium Enterprises (MSMEs) across the globe have been impacted by the pandemic.

Reviews

Write a Review

Financial Accounting Questions & Answers

  How many personal exemptions can marissa claim

Marissa is 20 years, single and a U.S. citizen with a valid social security number. -On Marissa's intake and interview sheet, she answered "Unsure" to the question, "Can anyone claim you or your spouse on their tax return"? How many personal exemptio..

  What is the settlement entry

Question - A company apply an indirect depreciation method to trade receivables management. What is the settlement entry

  Explain four important aspects from financial statements

Explain to him at least 4 important aspects from the financial statements of your company, that would be of interest to him and which would make

  After-tax earnings every year to either members-shareholders

Jerry would like to organize FBC as either an LLC or as a C Corporation generating pretax earnings of $32,000. Individual and corporate tax rates are both 35% and individual capital gains and dividends rates are 15%. FBC will pay out all of its after..

  Find the rate of return for the stock

Using the CAPM, a risk-free rate of 3% and the market premium of 7% find the rate of return for the stock. Provide the links you got the information from

  How much will stockholders equity change

Strauss' only debt is $2,070,000 to a bank. How much will stockholders' equity change when Strauss borrows $300,000 to purchase equipment

  Calculate the dollar amount of the common stock account

Calculate the dollar amount of the Common Stock account assuming the market value at year-end is $12 and the par value is $10 amounts at year-end

  How much will inheritance be worth by the time retires

How much does she need to have in her retirement account by retirement date if the interest rate is 6% per year during the post-retirement years?

  Prepare the statement of profit and loss of the company

Share opinion on the statement - " revenue from operations and earnings before interest, taxes, depreciation and amortization differs from each other" how?

  Diffrent kinds of creative expressions

You have seen how digital technology like YouTube allows people to easily create mashups and remixes. Do you think the law should allow these diffrent kinds of creative expressions? Why?

  What the net income reported by coronado industries

Coronado Industries started the year with total assets of $210000, What the net income reported by Coronado Industries for the year was?

  Estimate the value of the firm POP

The firm expects revenues, earnings, capital expenditures and depreciation to grow at 7% a year from 2020 to 2023, Estimate the value of the firm POP

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd